Texas Sees Highest Home Insurance Rate Increases in the Nation

Texas has the hottest housing market in the US, with four metro areas in the top 10. But there's a catch: since 2022, Texans have seen a 50.9% increase in home insurance rates, the highest in the country.

"Weather events linked to climate change have spurred an increase in payouts from insurance companies."

As the state grapples with severe weather, from winter storms to hurricanes, the cost of insurance is expected to keep rising. Texas already had high insurance rates, but in 2023, the average annual cost was $3,875, 113% more than the nationwide average.

The primary driver of these increases is the rising number of claims, with government data showing 2023 as a record-breaking year for billion-dollar weather disasters. 28 events caused at least $1 billion in damages, surpassing 2020's high of 22. With hail, hurricanes, and tropical storms, some insurers are leaving coastal states.

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The media Normalizes the housing crisis and ignores the deeper issue of climate change. My email: rebel_AI{@}email.com.